Assembly Actions -
Senate Actions - UPPERCASE
|Jan 08, 2020||
referred to finance
|Jan 16, 2019||
referred to finance
Senate Bill S1778
2019-2020 Legislative Session
Archive: Last Bill Status - In Senate Committee Finance Committee
- In Committee Assembly
- On Floor Calendar Assembly
- Passed Assembly
- Delivered to Governor
- Signed By Governor
2019-S1778 (ACTIVE) - Details
2019-S1778 (ACTIVE) - Sponsor Memo
BILL NUMBER: S1778 SPONSOR: SEPULVEDA TITLE OF BILL: An act to amend the state finance law, in relation to establishing the empire state public bank; and providing for the repeal of certain provisions upon expiration thereof PURPOSE: To establish a public bank for the state of New York to provide New York State taxpayers with more efficient utilization of their tax dollars in the form of access to low-cost capital to build up our infrastructure, sustain and build affordable housing, spur economic development, to lower the total cost of education in the form of low-interest student loans, and subsidize the state general fund in the form of bank divi- dends profits. SUMMARY OF PROVISIONS:
2019-S1778 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1778 2019-2020 Regular Sessions I N S E N A T E January 16, 2019 ___________ Introduced by Sen. SEPULVEDA -- read twice and ordered printed, and when printed to be committed to the Committee on Finance AN ACT to amend the state finance law, in relation to establishing the empire state public bank; and providing for the repeal of certain provisions upon expiration thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The state finance law is amended by adding a new article 17 to read as follows: ARTICLE 17 EMPIRE STATE PUBLIC BANK SECTION 254. LEGISLATIVE INTENT. 255. DEFINITIONS. 256. CREATION. 257. COMMISSION. 258. TRANSITION BOARD. 259. DEPOSIT OF PUBLIC FUNDS. 260. INVESTMENT OF STATE MONEYS. 261. INFRASTRUCTURE LOANS. 262. STUDENT LOANS. 263. BUSINESS, NON-PROFIT AND INDIVIDUAL LOANS. 264. TREASURY AND BANKING SERVICES. 265. MANAGEMENT. 266. ADVISORY BOARD. 267. FINANCIAL REGULATION. 268. REPORTING REQUIREMENTS. 269. ETHICAL REQUIREMENTS. 270. FEES AND TAXES. 271. BANK RECORDS. 272. CAPITALIZATION. 273. PUBLIC DEPOSITARY. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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